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Shares of Starbucks rallied on Tuesday after the coffee giant topped Wall Street estimates.
Starbucks achieved its first top and bottom line growth quarter in over two years.
KEY POINTS
- Global comparable store sales, or comps, rose 6.2%, beating FactSet expectations of 4%.
- A new Starbucks app feature will let customers schedule order pickup times starting next month.
- Starbucks formed a China joint venture with Boyu Capital, reducing risk in its China operations.
- Management raised 2026 global and U.S. comp sales growth outlook to at least 5% from 3%.
COMPANIES
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